The research aimed to provide empirical influence of earnings
management to firm value and the influence of corporate governance
implementation (managerial ownership, institusional ownership and independent
commissioner) on the relation between earnings management and firm value at
property and real estate which registered Indonesia Stock Exchange (ISX) period
2008-2011. Sampling method used was purposive sampling as well as moderated
regression analysis with significant level (α) 5%. Hypothesis testing using the t
tests to examine the effect of partially.
The result of this research showed earnings management (α = 0,019)
effected significantly toward firm value. Independent commissioner (α = 0,004) is
moderating variables for earnings management and firm value, while managerial
ownership and institusional ownership is out of moderating variable. Earnings
management can be minimized by independent commissioner.